{"id":53059,"date":"2023-08-31T15:59:32","date_gmt":"2023-08-31T13:59:32","guid":{"rendered":"https:\/\/www.immobilienbusiness.ch\/?p=53059"},"modified":"2023-09-04T15:04:10","modified_gmt":"2023-09-04T13:04:10","slug":"avobis-ihr-partner-in-turbulenten-finanzierungszeiten","status":"publish","type":"post","link":"https:\/\/www.immobilienbusiness.ch\/en\/publireportage\/2023-08-31\/avobis-ihr-partner-in-turbulenten-finanzierungszeiten\/","title":{"rendered":"Avobis - your partner in turbulent financing times"},"content":{"rendered":"<p>Increased risk premiums are a key indicator of the growing reluctance of lenders. The uncertainty surrounding the takeover of CS by UBS has increased risk in the banking sector. This is manifested above all in the increased swap spreads, which reflect the difference between the swap rate and the yield on German government bonds.<\/p>\n<figure id=\"attachment_53087\" aria-describedby=\"caption-attachment-53087\" style=\"width: 1019px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/www.immobilienbusiness.ch\/wp-content\/uploads\/2023\/08\/01_10J-Swap-Spread-1.png\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-53087 size-full\" src=\"https:\/\/www.immobilienbusiness.ch\/wp-content\/uploads\/2023\/08\/01_10J-Swap-Spread-1.png\" alt=\"\" width=\"1019\" height=\"516\" srcset=\"https:\/\/www.immobilienbusiness.ch\/wp-content\/uploads\/2023\/08\/01_10J-Swap-Spread-1.png 1019w, https:\/\/www.immobilienbusiness.ch\/wp-content\/uploads\/2023\/08\/01_10J-Swap-Spread-1-300x152.png 300w, https:\/\/www.immobilienbusiness.ch\/wp-content\/uploads\/2023\/08\/01_10J-Swap-Spread-1-768x389.png 768w, https:\/\/www.immobilienbusiness.ch\/wp-content\/uploads\/2023\/08\/01_10J-Swap-Spread-1-18x9.png 18w, https:\/\/www.immobilienbusiness.ch\/wp-content\/uploads\/2023\/08\/01_10J-Swap-Spread-1-375x190.png 375w, https:\/\/www.immobilienbusiness.ch\/wp-content\/uploads\/2023\/08\/01_10J-Swap-Spread-1-691x350.png 691w, https:\/\/www.immobilienbusiness.ch\/wp-content\/uploads\/2023\/08\/01_10J-Swap-Spread-1-1000x506.png 1000w\" sizes=\"auto, (max-width: 1019px) 100vw, 1019px\" \/><\/a><figcaption id=\"caption-attachment-53087\" class=\"wp-caption-text\">The gray marker represents the period in March when the CS situation worsened and the takeover by UBS was finally officially announced.<br \/>Source: Refinitiv Eikon, as at 28.08.2023<\/figcaption><\/figure>\n<p>&nbsp;<\/p>\n<p>Furthermore, banks not only pass on this premium to borrowers, but also other market risks. They do this by charging a higher credit margin, which - despite falling bond yields - leads to persistently high lending rates.<\/p>\n<figure id=\"attachment_53088\" aria-describedby=\"caption-attachment-53088\" style=\"width: 1097px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/www.immobilienbusiness.ch\/wp-content\/uploads\/2023\/08\/02_Hypothekarzinskurve-1.png\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-53088 size-full\" src=\"https:\/\/www.immobilienbusiness.ch\/wp-content\/uploads\/2023\/08\/02_Hypothekarzinskurve-1.png\" alt=\"\" width=\"1097\" height=\"543\" srcset=\"https:\/\/www.immobilienbusiness.ch\/wp-content\/uploads\/2023\/08\/02_Hypothekarzinskurve-1.png 1097w, https:\/\/www.immobilienbusiness.ch\/wp-content\/uploads\/2023\/08\/02_Hypothekarzinskurve-1-300x148.png 300w, https:\/\/www.immobilienbusiness.ch\/wp-content\/uploads\/2023\/08\/02_Hypothekarzinskurve-1-1024x507.png 1024w, https:\/\/www.immobilienbusiness.ch\/wp-content\/uploads\/2023\/08\/02_Hypothekarzinskurve-1-768x380.png 768w, https:\/\/www.immobilienbusiness.ch\/wp-content\/uploads\/2023\/08\/02_Hypothekarzinskurve-1-18x9.png 18w, https:\/\/www.immobilienbusiness.ch\/wp-content\/uploads\/2023\/08\/02_Hypothekarzinskurve-1-375x186.png 375w, https:\/\/www.immobilienbusiness.ch\/wp-content\/uploads\/2023\/08\/02_Hypothekarzinskurve-1-707x350.png 707w, https:\/\/www.immobilienbusiness.ch\/wp-content\/uploads\/2023\/08\/02_Hypothekarzinskurve-1-1000x495.png 1000w\" sizes=\"auto, (max-width: 1097px) 100vw, 1097px\" \/><\/a><figcaption id=\"caption-attachment-53088\" class=\"wp-caption-text\">The mortgage interest rate curve is drawn up on the basis of the average values of the showcase interest rates of various lenders. The mortgage interest rates are divided into the yield on federal bonds (lower area), the swap margin (middle area) and the credit margin (upper area). The credit margin is calculated as the difference between the mortgage interest rate and the swap rate with the same term. Source: Refinitiv Eikon, Avobis, as at 28.08.2023<\/figcaption><\/figure>\n<p>&nbsp;<\/p>\n<p><strong>Banks are becoming more selective<\/strong><br \/>\nMany banks no longer expand their mortgage business beyond their core area and focus exclusively on their main areas. Such an approach deprives the market of a competitive share and weakens the negotiating position of borrowers. While lending guidelines were often perceived as too restrictive in the low interest rate environment and were therefore circumvented by loans that are considered exception-to-policy, they are now being followed more consistently. The stricter adherence to internal bank guidelines regarding loan-to-value ratios, affordability rules and amortization rates restricts the scope of action of mortgage borrowers and, in extreme cases, can lead to a rejection of the loan application.<\/p>\n<p><strong>Professional approach and active market presence required<\/strong><br \/>\nThe central banks are unanimously signaling a restrictive monetary policy for the unforeseeable future, which further complicates the situation. In this market environment, it is becoming increasingly challenging to secure seamless refinancing for their real estate projects, even for well-connected players in the real estate market with an affinity for financing. The realization of construction and other investment projects is also facing growing difficulties when it comes to securing the necessary financing and implementing the projects profitably.<\/p>\n<p>In the midst of the current market uncertainty, it is essential to critically review your own financing structure, even for existing loans, and to adapt it to the changing framework conditions and requirements if necessary. Especially in such an environment of increased and volatile interest rates, the market demands an active presence and a professional approach in order to be successful. Avobis supports and advises on all these issues with its experts and its large network of lenders in all financing matters.<\/p>\n<figure id=\"attachment_53086\" aria-describedby=\"caption-attachment-53086\" style=\"width: 1056px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/www.immobilienbusiness.ch\/wp-content\/uploads\/2023\/08\/03_Zinssaetze-Hypothekarkredite-mit-Laufzeit-ueber-7-bis-10-Jahre-1.png\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-53086\" src=\"https:\/\/www.immobilienbusiness.ch\/wp-content\/uploads\/2023\/08\/03_Zinssaetze-Hypothekarkredite-mit-Laufzeit-ueber-7-bis-10-Jahre-1.png\" alt=\"\" width=\"1056\" height=\"514\" srcset=\"https:\/\/www.immobilienbusiness.ch\/wp-content\/uploads\/2023\/08\/03_Zinssaetze-Hypothekarkredite-mit-Laufzeit-ueber-7-bis-10-Jahre-1.png 1056w, https:\/\/www.immobilienbusiness.ch\/wp-content\/uploads\/2023\/08\/03_Zinssaetze-Hypothekarkredite-mit-Laufzeit-ueber-7-bis-10-Jahre-1-300x146.png 300w, https:\/\/www.immobilienbusiness.ch\/wp-content\/uploads\/2023\/08\/03_Zinssaetze-Hypothekarkredite-mit-Laufzeit-ueber-7-bis-10-Jahre-1-1024x498.png 1024w, https:\/\/www.immobilienbusiness.ch\/wp-content\/uploads\/2023\/08\/03_Zinssaetze-Hypothekarkredite-mit-Laufzeit-ueber-7-bis-10-Jahre-1-768x374.png 768w, https:\/\/www.immobilienbusiness.ch\/wp-content\/uploads\/2023\/08\/03_Zinssaetze-Hypothekarkredite-mit-Laufzeit-ueber-7-bis-10-Jahre-1-18x9.png 18w, https:\/\/www.immobilienbusiness.ch\/wp-content\/uploads\/2023\/08\/03_Zinssaetze-Hypothekarkredite-mit-Laufzeit-ueber-7-bis-10-Jahre-1-375x183.png 375w, https:\/\/www.immobilienbusiness.ch\/wp-content\/uploads\/2023\/08\/03_Zinssaetze-Hypothekarkredite-mit-Laufzeit-ueber-7-bis-10-Jahre-1-719x350.png 719w, https:\/\/www.immobilienbusiness.ch\/wp-content\/uploads\/2023\/08\/03_Zinssaetze-Hypothekarkredite-mit-Laufzeit-ueber-7-bis-10-Jahre-1-1000x487.png 1000w\" sizes=\"auto, (max-width: 1056px) 100vw, 1056px\" \/><\/a><figcaption id=\"caption-attachment-53086\" class=\"wp-caption-text\">The chart is based on SNB surveys. The fixed rates for mortgage-backed loans to finance real estate in Switzerland are recorded. The chart shows the number of new loan agreements and the median values as well as the 25% and 75% quantiles of the interest rates.<br \/>Source: Refinitiv Eikon, SNB, as at 28.08.2023<\/figcaption><\/figure>\n<p>&nbsp;<\/p>\n<p><strong>Mezzanine financing: Another option when nothing else works<\/strong><br \/>\nIn addition to conventional bank financing, there are alternative financing models such as mezzanine financing. This subordinated loan can be particularly suitable for securing liquidity or as bridge financing. Due to the associated risk, this form of capital procurement can be costly. A professional tendering process for financing and a thorough comparison of offers are therefore crucial.<\/p>\n<p>Although mezzanine financing is legally classified as debt capital, which means that interest expenses are tax-deductible, tax authorities may question the conditions of such financing. This is particularly the case if the loans originate from related parties or shareholders. In these situations, it may be necessary for the borrower to prove that the financing conditions are in line with market conditions.<\/p>\n<p>Avobis has many years of experience in arranging debt capital, including mezzanine financing. Thanks to this expertise and its excellent network in the market, Avobis can provide support in the procurement of mezzanine financing as well as a detailed analysis of the market standard of the underlying financing.<\/p>\n<p>We create liquidity and flexibility in these uncertain times and are at your side as a reliable partner. Contact us and let us find your financing solution together.<\/p>\n<p>Avobis Group AG<br \/>\nBrandschenkestrasse 38<br \/>\n8001 Zurich<\/p>\n<p>Financing | Avobis<br \/>\n<a href=\"mailto:finanzierungen@avobis.ch\">finanzierungen@avobis.ch<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Real estate financing is proving to be complex and expensive in a rising interest rate environment and with cautious lenders. This is where Avobis comes in.<\/p>","protected":false},"author":102,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_yoast_wpseo_focuskw":"Immobilienfinanzierung","_yoast_wpseo_title":"","_yoast_wpseo_metadesc":"Die Immobilienfinanzierung erweist sich in einem steigenden Zinsniveau und bei vorsichtigen Kreditgebern als komplex und teuer.","_yoast_wpseo_linkdex":63,"pgc_sgb_lightbox_settings":"","footnotes":""},"categories":[1931],"tags":[1056,1321,2255,3214],"class_list":["post-53059","post","type-post","status-publish","format-standard","hentry","category-publireportage","tag-avobis","tag-hypotheken","tag-immobilienfinanzierung","tag-kredit"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Avobis \u2013 Ihr Partner in turbulenten Finanzierungszeiten - IMMOBILIEN Business<\/title>\n<meta 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